Wednesday, January 31, 2007

Day Trade: Long RIMM 30-min chart

Entry @ $104.67 / 700 *** wrong price***
Entry @ $124.67 / 700 *** update 11:41am***




Entry : $124.67




Size : 700




Exit : $127.81




Stop Loss : $123.70




Risk : 0.97




P/L : $2,198.00




R : 3.24
I came this morning all ready to re-establish a SHORT position trade on this stock but instead of breaking down, this stock broke out of multi-day downtrend in the form of WIDE RANGE cstick (see 1st cstick). So i had to change my plan into a intra-day long trade. First low risk entry was when the 3rd cstick moved above the 2cstick. It smelled like a complete mauling of the bear traders...short squeeze!!!!

5 comments:

Anonymous said...

nice entry. :)

mc said...

thanks for pointing out

Anonymous said...

mc - I suggest you add another late entry. Long 700 CHRW at yesterdy's close of 43.76. That will look good too.

Gary said...

In the greater good of mankind ignore the idiot-- I apologize on his behalf, you've done an excellent job of educating people like me, so thanks for taking the time out to post your trades and explain what you can.

Again, the world aint perfect -- this idiot went to same Nu-ke-LAR- school as a certain president :)

Scott said...

I just found your blog last week and I am addicted. I love your trading style and you have 11 years of wonderful knowledge to share. I really appreciate your efforts!